Falling battery costs and longer warranty lifetimes, paired with changes to solar feed-in tariffs and higher tariffs for using energy in peak periods, are trends that may lead to more Australian households investing in residential batteries in the coming years.
In a Perspectives paper published on the AEMC website today, it is suggested that a turning point between now and 2025 may be coming, at which residential battery installation may become a more economic option for households looking to save money on their energy bill.
While a high proportion of Australian residences have solar rooftop PV, it may be surprising to hear that only a fraction of homes have batteries.
There are currently around 3.19 million total solar rooftop PV systems installed for residential and small business customers in Australia and only 1.6 per cent of those households with solar rooftop PV systems have installed a battery.
This situation is changing. According to Clean Energy Regulator data, more than 50,000 total registered small-scale battery systems have been installed in Australia in the past seven years. Much of the installation activity has taken place in the past few years.